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Companies using Big Data

Posted by Sonaliiiii on October 23rd, 2019

Companies using Big Data

 

When running a big data analytics company, you have to utilize the data presented so you can thrive against the competition.

Not all companies use real-time analysis. The reasons are different: insufficient funds, the lack of expertise, the management team’s reluctance, and fear of the associated challenges. However, reputable companies like Famoid who use real-time analytics will gain a competitive advantage.

Let’s say you’re a fashion retailer who wants to provide high-quality customer service. Analyzing big data can help bring this vision to life. For instance, once a customer passes through a retailer’s store, they will get a notification on their smartphone that incentivizes them to enter.

Once the customer is in the store, the staff will receive a notification on their apps. This makes them aware of the customer’s style preferences, latest purchases, interest in promotions. Looks like a win-win situation for retailers and customers, doesn’t it?

Eccomerce retailers can receive better performance by analyzing data in real time. For example, it can reduce the number of abandoned carts. For instance, let’s say a customer has gone that far, but have not completed the purchase for some reason.

Still, it’s a good chance to incentivize your customer’s ad change their mind. The system turns to the customer’s profile data and their surfing and purchasing history to compare the customer’s behavior with the actions of customers from the same segment and their responses to a similar situation. Based on their analysis, the system creates the most possible solution — for instance, create a discount.

Also See: Big Data, Thrive Against, Lets Say, Data Presented, Data, Customers, Big

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